The focus of AirAsia was on maintaining its low-cost policy and in context to that AirAsia X was launched in 2007. As there are no significant differences in the price compare to Air Asias competitor such as Tiger Airway and Jet Star as mentioned earlier, their customer do not need to spend more to shift to another airline. Physical evidence encompasses the ways in which the company can maintain their position in the industry. Furthermore, Jet Star Airways has comparatively more number of payment options that are available for the convenience of the customers (Finder, 2018). Rising Labour Costs 3. However, there is also a barrier to the establishment of the new entrant in the airlines, which is the high start-up cost that is required for the airline services. Air India to discontinue Vistara after merger, DS Group Partners with Lderach (Swiss Chocolate Maker), Castrols unveils a New Logo and a Refreshed Brand Identity. Sponsorship is also one of the great marketing tools. It has a fleet of over 70 aircrafts, which fly to over 120 destinations and operates over 400 flights daily from its hubs situated in Thailand, Malaysia and Indonesia (AirAsia, 2018). AirAsia has won many awards over the years. Air Asia is known for its low pricing, as well as a no frill policy. After an in-depth study of the swot analysis of AirAsia, weve concluded that AirAsia is indeed the worlds leading low-cost airline. Increasing globalisation has led to an increase in the lifestyle and financial condition of people. Consistent complaints concerning services and facilities may result in a downfall for the organisational reputation and prioritisation. Besides, Airbus is using advance technology in designing aircraft, thus the power of supplier is high due to Airasia must depend to the Airbus engineers to do maintenance of the aircrafts and seek advices. The major competitors for Air Asia as per the market analysis are Jet Star Airways, Tiger Airways, JAL Express, and Air Arabia. In 2002, AirAsia became the first airline company in the region that allowed passengers with the facility to pay for their bookings by using credit card. Strengths are defined as what each business does best in its gamut of operations which can give it an upper hand over its competitors. AirAsia is one of the largest low fare airline companies in Asia, which has been expanding its routes to different countries since 2001. The airline brand should exploit these circumstances. It mainly constitutes of two major subsidiary airlines that includes MASwings and Firefly. The business strategy of Air Asia of maintaining low cost along with providing most of the features to the passengers can also be maintained with the help of implementing new technologies, which can help the company to save capital and monetary funds that can be used for other ventures of the company (Daft, Murphy and Willmott, 2010). Direct competitors market the same product to the same audience as you, while indirect competitors market the same product to a different audience. Air Asia uses direct sales methods, such as sales through the internet, call centres, and walk-in airport sales. Competitiveness Points of Air Asia. This pricing strategy helps the company to create a base for pricing all the operations that are carried by them. Liked our work? Other than that, hes a fun loving person. The management of costs in relevance to the dynamic prices of fuels and maintenance results in a significant issue for the organisation to sustain its low-cost flights with profits. AirAsia is known for its low fares and no-frills policy. This article has been researched & authored by the Content & Research Team. The goal of AirAsia is always looking to cut costs across the value chain from competitors to gain the greatest cost advantage. It seems as the destination and customer market share of AirAsia is only limited to the Asian countries. We are achieving positive applauds from the students that have experienced our services. The 7 Ps of the model are price, product, promotion, place, people, process, and physical environment (Fine, 2017). The large fleet size and the high number of destinations help the company to diversify its resources and amplify its target market. The bargaining power of buyers is strong because most of the customers for Airlines Company are individual travellers instead of travel in group. Porters five force analysis for Air Asia is as under: Bargaining power of Supplier Analysis of the bargaining power of suppliers is crucial for any organisation, as with the help of this, an organisation manages the capital and makes decisions regarding financial management (Thomas and Housden, 2017). Let us now get into its marketing strategy. Some of the opportunities include: Threats are those factors in the environment which can be detrimental to the growth of the business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Do check out our Free Digital Marketing Masterclass by Karan Shah. According to an estimate, theannual revenueof AirAsia in 2020 was2844million MYR, and it has declined by76.02%. The following are the strengths of Air Asia : Weaknesses are used to refer to areas where the business or the brand needs improvement. Hence, customer may access to the current airlines information which are available at all time, this has reduced the power of negotiation for airlines and producing a strong customers bargaining power. There are many services that are provided to the employees of the organisation, such as training and motivational lectures. The increasing cost has made it impossible for the company to offer low prices and remain profitable. The distribution channels for the tickets include different sources such as internet ticket booking, exclusive reservation, and sales offices along with the agents that are authorised by the company. Porters Five-Forces Model of competitive analysis is widely implemented by most of the company to progress their strategies in many industries. The increasing fuel cost and the labor cost have amplified the overall expense of AirAsia. AirAsia is already trying to achieve that by expanding their facilities to hotel bookings, tour packages, etc to try and gain some competitive edge along with diversifying their product portfolio. Another reason for the threat of new entrants being low is government laws and regulations which pose restrictions on applying for permissions and license for operating an airline company. Build a competitive intelligence sales and marketing strategy based on the data In other word, that makes no significant differences in price between the premium airline such as MAS or Singapore Airlines if the customer purchase the ticket last minutes. AirAsia is an experienced brand in the airline industry. The company also engages in direct service development strategy by treating employees as an essential part of the organisation. Exit Cost is high. This results in significant reduction in the cost as the commission fee paid to travel agents are saved and can be used to maintain the facilities and services of the company (Pinto et al., 2015). Airasia had expanded its services provides to hotel booking as it already has its own hotel (tune hotel) which located not far away from its airport, and tour packages. Such events and teams have got millions of fan following, when an airline sponsors a team or an event, then it allows the company to reach new customers. The verdict overturned the Malaysian Competition Commission (MyCC) ruling that AirAsia and Malaysia Airlines (MAS) had colluded to share the market. Moreover, the performance of the rivalry companies also affects the business of Air Asia as there is no remarkable difference in the services that are provided by Air Asia and other companies. AirAsia has the vision to be one of the best and largest airlines that operates at a low cost. It provides an understanding of the company's strengths, weaknesses, opportunities, and threats (SWOT) in relation to its competition. Air India, Emirates, and many other Asian airlines have also started following the low-cost carrier strategy to attract market share. Get best assignment helper in Malaysia as offered by Student Life Saviour to ensure best grades in all Malaysian assignments. Here you can choose which regional hub you wish to view, providing you with the most relevant information we have for your specific region. In anchor pricing strategy, the company prices its services along with the tickets at a low price. However, AirAsia provides service packages to its customers at a very reasonable charge that is affordable to the customers in comparison to the competitors in the airline industries. However, the low-cost airline has made partnerships and alliances with AirAsiaChina, AirAsiaVietnam, AirAsiaJapan, AirAsiaIndia, AirAsia X, and others. AirAsia is involved in many Corporate Social Responsibility (CSR) activities so that it can contribute towards the welfare of the community. Thank you for reading this case study. Student Life Saviour 2022 - All rights reserved. The basic product strategy in its marketing mix is its low-cost air services. They have been a major player in the low-fare airline industry and have connected over 88 countries together. It was started in 1993, and the operations began in 1996. Competitive analysis involves identifying your direct and indirect competitors using research to reveal their strengths and weaknesses in relation to your own. Currently, the priority for the company is to maintain the fundamental principle of keeping travel fair as low as possible so that people with weak financial status can also afford to travel in flights. Competitive analysis is the process of researching and evaluating the competitive landscape of a business entity. WebAnalysis for Cost Leadership Strategy and Core. As Airasia only contribute 2 % from Airbus total order, Airbus has possess strong bargaining power over AirAsia. It must have a good relation with hotels and tourism companies around Asia. Jetstar Airways 2. The competitions are depending on the services provided and the suitability of the flight time for the customer. Hence the airlines companies have more sales on individuals tickets rather than the groups of customers. Since AirAsia is a low-cost airline and the Indian market is price-conscious, it would be a win-win situation for both. Interested in learning more? AirAsia should expand into more countries, increase the market, and target new customers. Your topic helped a lot, Your email address will not be published. Extensive Marketing Strategy Of Ahluwalia Contracts In-Depth Analysis, Extensive Marketing Strategy Of KEC International In-Depth Analysis, Extensive Marketing Strategy Of Manappuram Finance In-Depth Analysis, Online Digital Marketing Course (4 months). Aircraft supplier could be the one who gaining most bargaining power as there are only two in operation, Boeing or Airbus. It works towards providing the highest quality products by making technological advancement to reduce cost and enhance service levels. As compared to industry leaders, they dont operate on as many routes, Merging with other low-cost airline companies, They can introduce more flights for popular and busy destinations, The increasing traffic from India as Indians prefer budget airlines. The organisation can be witnessed to confront critical competition from the competitors who are facilitating similar costs and additional services and privileges which act as a drawback for the organisation (Man and Justine, 2005). Apart from that, AirAsia engages in popular promotions such as social media advertising, print advertisements, and simple but efficient billboard advertising. Its going to analyze the internal and external factors impacting the worlds leading low-cost airline. The companies are not associated with MBA Skool in any way.Edit the brand or add a new one to SWOT Analysis section : Contribute. Back in the 1900s Thai National Airlines was the only airline that could fly in the main routes of Bangkok Chiang Mai with non-stop flights. This has raised the threat of substitution for Air Asia, as in any case of customer dissatisfaction or unavailability of service, it will be easy for the passengers to shift to some other airline company. The acronym refers to political, economic, social and technological factors. About Air Asia AirAsia is headquartered in Malaysia and provides transportation services to its passengers along with cargo and courier services. Relative insignificant influence of buyer to supplier. It has subsidiaries in Indonesia, Thai, Phillipines, Japan, 5.It has a fleet size of nearly 300 aircrafts. Your email address will not be published. This model is widely implemented by various organisations for the development of their strategies in the industry. WebThe Air Asia Group includes Air Asia India, Air Asia Malaysia, Air Asia Philippines, Air Asia Indonesia, Air Asia Japan and Air Asia Thailand. AirAsia launched AirAsia Berhad in 2001, which provides air transportation services, particularly in Malaysia. The Marketing mix refers to the set of actions and tactics which a company uses to promote its brand. AirAsias positioning is very clear in being low-cost. This increases the probability of people to avail of airline services frequently. Best regards from Kazakhstan.My name is Ainash. Customers have access to market information. As per the past experiences and the feedback of the customers, Malaysia Airlines are found to react their destinations on time in comparison to AirAsia. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. In accordance with the increased demands, the options available for flying has also increased, and hence, the bargaining power for buyers is examined to be high for Air Asia. However, the low-cost pricing strategy has allowed the company to target price-conscious customers in the Asian market. The organisational image is consistent and successful concerning the competition in the market. Copyright 2003 - 2023 - UKEssays is a trading name of Business Bliss Consultants FZE, a company registered in United Arab Emirates. Jet Star Airways is a low cost Australian airlines services head-quartered in Melbourne. Low Cost Model: Low cost operations and fixed costs . AirAsia X share began trading on Bursa Malaysia, formerly known as the Kuala Lumpur Stock Exchange, on 10-Jul-2013. As reported in The Edge Markets in 2019, Khazanahs managing director Datuk Shahril Redza Ridzuan claimed that the airlines CASK was only 15 per cent to 20 per cent higher than AirAsia and was in fact lower than regional airlines such as Singapore Airlines, Thai Airways and Cathay Pacific. They may compete in term of their route offering that Airasia does not fly. The company was established in 1993, and the official operation of the company was started on 18 November 1996. In addition to this, various political factors can be highlighted by influencing the operations and management of AirAsia which have been mentioned below. Use fundamental and technical analysis of AirAsia Group and its peers Please click here if you are not redirected within a few seconds. Ease to switching. Now, the brand should amplify its marketing and promotional campaigns to attract the Indian price-conscious market. The company develops the products and services that are convenient for its customers (Mele, Pels and Storbacka, 2015). Diversified in product offered. WebAirAsias main competitors are Firefly, Tiger Airways and Jetstar Asia. Below are the top 3 competitors of Air Asia: 1.Jetstar Airways 2.SilkAir 3.Tiger Airways. The airline offers 0.023 dollars per seat kilometer fare to its customers, and it is the worlds lowest airline fare. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Airasia may be small portion of customer whom orders 200 aircraft from the total 9,113 aircraft order from other customer of Airbus. This reduces the chances of small or medium enterprises to enter this industry, and hence, the threat of new entrants for Air Asia is very low. Government regulations which target various aspects such as particular routes, landing permissions and share possession cause a drastic impact on the operations of the organisation. Its going to analyze the internal and external factors impacting the worlds leading low-cost airline. Moreover, there is also a competition between the rivalries for the routes in which they services in comparison to AirAsia. The first decision by the Malaysian Competition Appeal Tribunal since its inception more than four years ago caught the media and publics attention. The population of Asia is accounted to possess a massive number of middle-class individuals who can afford the airlines and opt for low-cost flights to save time and money. Air Asia is a low-cost airline headquartered in Malaysia. Fixed cost incurred by an airline company may include the finance cost, hire purchase and staff cost while this fixed cost may be reduce through increase in market share. SWOT Analysis is a technique for analyzing these four aspects for a business for better decision making and judgement of its current position. That was AirAsias 4Ps mix, detailing each strategy and its purpose. Browse marketing analysis of more brands and companies similar to Air Asia. In Air Asia SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors. Student Life Saviour is a prominent name in providing assignment, essay and dissertation help services to students. It allows its customers to choose the services they want without compromising on quality. In contrast to this, Jet Star Airways has more types of planes that are provided to its customers that includes A320, Bombardier Q300, A321 and Boeing 787 Dream Liner; whereas AirAsia offers only two types of planes to its customers, which are A330 and A320. The Threat of New Entrants In the business of airlines, the loyalty of the customers is found to be weak. Since the airline brand follows the tight costing strategy and it allowed the company to offer cheap fare to the customers. WebAirAsia Competitors Specify up to 10 symbols: WH REGN XHR NVO VRTX HOG IHG rprx Sophisticated investors, who have witnessed many market ups and downs, frequently AirAsia X was regarded as having the worlds best low-cost airline premium seat and the worlds best low-cost airline premium cabin for five consecutive years (AirAsia X, 2018). Thank you very much Mr. Hitesh Bhasin for this SWOT analysis. These are people ranging from those who could not afford to fly previously, to corporate business employees whose employers are looking to fly them while cutting costs. The important thing the buyers look for is the fly to destination which shows the strong bargaining power of buyers. The following are strengths and weaknesses of AirAsia: 1. AirAsia also acquired recognition for improving its supportive and constructive management, as it received rewarded by Center Asia Pacific Aviation (CAPA) as the best airline of the year. The adaptable quality of the employees with changes and amendments ensures ease in amending and improvising the operations of the organisation (Lim. Brands, such as Jet Star Airways and Tiger Airways, are sustaining in the competition as they also provide air transportation at cheap costs to people along with enhanced in-flight services and varied options for passengers.This directly affects the customer strength of Air Asia, andthese companiespose a threat to the company. The Essay Writing ExpertsUK Essay Experts. They may compete in term of their route offering that Airasia does not fly. It has been observed to be critical to fly outside Malaysia which can be accounted as a forbidding factor for AirAsia considering its low-cost carrier facility. This paper will examine the results of the strategic actions of AirAsia in the Malaysian domestic airline market. As per the results of the survey, AirAsia has. In this section of the blog, we shall understand AirAsias marketing with the help of its STP (segmentation, targeting, and positioning) strategy. Orient Thai previously competed as a third LCC domestically but has essentially withdrawn from this market, initially shutting its LCC brand One-Two-Go in 2008. Use Slintel to connect with top decision-makers at AirAsia. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. The biggest competitors of AirAsia though, are Malaysian Airlines and JetStar Airways. Free resources to assist you with your university studies! Lets get into discussing their marketing efforts, starting with their marketing mix. Strengths. As increasing in the number of airline competitor such as Jet Star and Tiger Airways which are also promote low cost fare may decrease the shifting cost of the customer lead to decrease of Air Asias customer loyalty. Step 3- Assess the Porter Five Forces in relation to the industry and assess which forces are strong and which forces are weak. Furthermore. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. The marketing mixs 7 Ps model is a marketing strategy tool that is used in a business in order to gain the feedback from the market in relation to marketing objectives. Tony Fernandes was recognised as for his outstanding work in AirAsia, and he was awarded by the International Herald Tribute Award and he also became the Malaysian CEO of the year in 2003 (Roy, 2014). Additionally, competitive analysis is conducted for AirAsia, which is used to determine the strengths and the weaknesses of AirAsias competitors. AirAsia was bought over by Tony Fernandes, the current chief executive officer of AirAsia from DRB-Hicom on 2nd December, 2001 (Soon, 2017). WebAirAsia Bhd Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis Enhanced SWOT Analysis (+ US$ 75.00) PESTEL Analysis (+ US$ 150.00) IFE, EFE, IE Matrices (+ US$ 125.00) Porter Five Forces Analysis (+ US$ 75.00) VRIO Analysis (+ US$ 175.00) Special Bundle, including all types of analyses (+ US$ February 2, 2019 By Hitesh Bhasin Filed Under: SWOT of Brands. SWOT analysis of Air Asia analyses the brand by its strengths, weaknesses, opportunities & threats. Required fields are marked *. 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